CBRE Hotels finalises Australia’s largest brokered strata amalgamation deal since the pandemic

by

CBRE Hotels finalises Australia’s largest brokered strata amalgamation deal since the pandemic
Image Supplied - CBRE

The Sydney Potts Point Central Apartment Hotel has been acquired for $31.5 million by global multi-manager BGO Strategic Capital Partners and the Sydney-based Hotel Capital Partners.

CBRE’s Hotels and Capital Markets teams negotiated the sale, which settled this week and will result in the art deco building being convert into co-living accommodation.

The deal represents Australia’s largest brokered strata amalgamation deal since the pandemic, comprising 73 individual lots.

The 4-star hotel comprises 70 serviced apartments at an average of 23 square metres, a ground floor food & beverage outlet and a rooftop public amenity offering expansive views of Sydney’s CBD.

The planned co-living facility will be managed by UKO, Australia’s largest co-living operator.

CBRE Hotel’s Senior Director, Tom Gibson, said, “This was an incredibly intricate transaction, balancing the interests of 73 different lots simultaneously. Thanks to the patience of all stakeholders, we achieved an excellent result for our clients in what is a highly strategic acquisition in one of Sydney’s most sought-after pockets.”

Mr Gibson added, “Despite ongoing global macro concerns, Australia continues to prove itself as one of the most resilient hotel markets globally.”

CBRE Capital Markets’ Angus Windred said, “Noting the freehold going concern nature of the offering with vacant possession, the sale process extracted significant interest resulting in over 150 enquiries and 15 bids from developers, local HNWI’s and owner-operators.”

Related Content

cbre listings Accommodation for Sale Latest Industry News

A FANTASTIC FREEHOLD HOTEL & MOTEL OPPORTUNITY! - 157HF
Simple Duties with Spacious, Quality 2 Bed Residence - ID 9245
Dargo Motor Inn. Freehold & Business.
RARE SHORT-TERM FOCUSSED OFF-THE-PLAN MANAGEMENT RIGHTS IN BURLEIGH HEADS | Resort Brokers ID : OTP009438
Freehold Motel & Caravan Park Delivering Exceptional Return With 83% Growth | Resort Brokers ID : FH009388
A Port Douglas Original – Genuine, Welcoming and Distinctively Different
A Coastal Management Rights Opportunity in Mooloolaba Circa 30% R01
Secure 22-Year Freehold Investment backed by long-term secure lease. | Resort Brokers ID : INV009412
Off The Plan Business-Only in inner-city fringe with projected $177k+ Net profit | RB ID : OTP009406
EXCEPTIONAL LIFESTYLE WITH A SIMPLE COMMUNITY BASED COUNTRY PUB IN THE MIDDLE OF TOWN - 52HF
GOLDEN OPPORTUNITY, THRIVING LEASEHOLD MOTEL FOR SALE IN PRIME LOCATION - 1033ML
FREEHOLD GOING CONCERN MOTEL WESTERN QLD
OUTSTANDING OFF THE PLAN MIXED-USE MANAGEMENT RIGHTS - $1.6M+ PROJ. NET PROFIT | Resort Brokers ID : OTP009440
Whitsundays Management Rights, $314,779 Net Profit, 20 Years Security | Resort Brokers ID : MR009437
Long-Term Income Security – Established Management Rights | 18.6% ROI
BRISBANE NORTHSIDE FREEHOLD - 2911MF
Building Management & Caretaking Opportunity – Coronation Towers
Idyllic bush retreat - freehold business and residence